Gold has been stored as a treasure for its natural beauty and radiance for many years. But we often fail to buy the purest one as we determine its purity by seeing the color and radiance instead of checking the carat measurements and hallmark signs. Therefore, understanding gold purity is essential when buying such a precious metal to get an accurate valuation after selling the item. It also answers the relevant question, how to invest in gold?
In most cases, the hallmarked sign determines the purity of gold or by locating the carat percentage; Gold purity is measured in carats, where 24k is defined as the purest form of gold. Below we discuss some events about the purity of gold with some essential factors related to hallmark and its essentiality-
How to Invest in Gold and Check the Purity of Gold
Many people buy digital gold and a pure 24k gold coin online. To determine purity by ordinary people, the Bureau of Indian Standards (BIS) provides certification to verify the gold you buy from the stores. The process of certifying the gold for its authentication is called hallmarking. Endure the two main principle objectives of the hallmarking scheme:
- a) subjecting to prevent the public against adulteration
- b) Obligating gold providers and manufacturers to maintain legal standards of fineness/purity.
- Caratage: As said earlier, gold in its purest form contains about 99.95%, rating itself as 24-karats. It means that the gold item does not have any mixture of other metals in a high percentage, though a little purporting of the alloy is mixed to make it solid and increase the gold endurance and make it last for long for regular wearing. Pure gold occurs in molten and is too soft to be sold in stores. So, if you want to buy any jewelry for your wedding purpose or before Diwali or Dussehra, admire buying gold by checking its carat first.
- Color: Gold in its purest form can be available in various colors; amongst them, yellow gold jewelry is the most chasable one, and it continues to be in demand all the time. The color yellow in gold comes naturally, which is further enhanced by giving a fine polish. But today, it occurs in a diverse palette, coming in different colors like red, gold, and white. The diversification of gold color is created by mixing other metals with their purest form, eventually increasing the malleability and durability. Manufacturing white, yellow, or rose gold does not change the value of the gold purity of the piece.
- Fineness: It expresses the consistency level of the purity of the gold. It represents purity in parts per thousand. For example, the World Gold Council estimated 24KT should be 24/24, but a slight impurity in gold is adequately refined to deliver a fineness level of 999.9 parts per thousand.
- BIS Mark: Any gold jewelry hallmarked by BIS will bear an identification logo. Such a logo on the front or back of the jewelry determines its purity, verified in one of its licensed laboratories. According to the BIS website, the agency approved by the Indian government will only be allowed to hallmark gold articles to ensure their purity. The licensed laboratory assesses and checks its purity and puts its logo on the jewelry. You can quickly identify the identification marks on your jewelry, gold coins, or bullion in small sizes to ensure its purity to its owner.
The Essentiality of Buying Hallmarking Gold Articles by Buyers
The accurate determination is the hallmarking, indicating a precise measurement of the proportionate content of gold and other precious items. Hallmarks are used as an official mark or stamped approved by BIS used in India, guaranteeing the purity or fineness of the gold pieces. So let us see why buyers should opt for hallmarked gold articles from the stores and the benefits of buying them-
- Safeguards the Consumer Against Buying Cheap Metal
As gold seems to be the most precious metal in India, the government bodies have allocated a hallmarked sign or logo to the gold article to allocate its purity and acknowledge the consumer that they are buying a poured form of gold. Mandatory hallmarking safeguards the consumer against buying lower-karat gold jewelry and saves the consumer from being misled by the jeweler. For instance, if a person buys 22k or 24k of hallmarked gold items, the article consists of the parts of gold, and the rest is alloy.
- It Never Changes the Value of the Gold
The purity of the gold cannot be contested even if you are selling the item 15 or 20 years after. The purity certification of the gold helps the seller to sell the item at today’s current price while collateralizing it. Positioning the hallmarked sign with all the details of the jewelry piece describes accumulating assets for the next generation. While preserving them for your future, it is very much necessary to buy hallmarked gold only.
How Much Do You Have to Pay for Hallmark Sign?
The two most precious metals in India, gold and silver, get the hallmarked sign from the government bodies. Therefore, buying under the purview of Hallmarking is recommended to recognize its authenticity. A minimal price is included as a hallmarked charge from the fold item, which is INR 35 plus GST per article. You have to pay for the hallmark charge per article, irrespective of the weight of the article.
Conclusion
So if you plan to buy gold to save it for your future and family, opt for pure gold. Also, remember to prevail over the hallmark sign that ensures finesse and purity to the gold article.
On this note, GGC provides authenticated and hallmark-approved gold coins and bullions to their customers so that they can get the most accurate and poured gold they can sell at a better value in the future. You can buy 24K gold coins online from this portal and save them for your future.
